AC Milan halves full-year losses as TV revenue rises

FILE PHOTO: The AC Milan logo is pictured on a pennant in a soccer store in downtown Milan, Italy April 29, 2015. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - AC Milan halved its losses in the fiscal year ending June 30 as the Serie A Italian football club's improved pitch performance boosted TV revenues and limited pandemic damage, it said on Tuesday.

Controlled by U.S. investment fund Elliott, the seven-time European champions reported a full-year loss of 96.4 million euros, down from a record 194.6 million the previous year.